Mr. Blaine Monaghan reports

PACIFIC RIDGE COMPLETES OVER 11,700 M OF DIAMOND DRILLING AT KLIYUL AND RDP COPPER-GOLD PROJECTS

Pacific Ridge Exploration Ltd. has completed 10,284 metres of diamond drilling at its 100-per-cent-owned Kliyul copper-gold project and 1,428 m at the RDP copper-gold project. Kliyul is located in the prolific Quesnel terrane, close to existing infrastructure, and RDP is located 40 kilometres to the west of Kliyul in the Stikine terrane.

Kliyul highlights:

• 10,284 m of diamond drilling was completed in 19 drill holes at Kliyul, making the 2023 exploration program the largest ever on the project.
• 8,965 m in 16 drill holes in six contiguous fault block zones of the Kliyul porphyry copper-gold complex tested an area measuring approximately 1,300 m east-west, 600 m north-south, and up to 650 m vertical depth.
• 1,319 m in three drill holes tested three interpreted porphyry centres (Ginger, Ginger South and Parish Hill) up to 1.5 km from the Kliyul Main zone (KMZ).
• Pacific Ridge has reported assay results from the first four diamond drill holes, with hole KLI-23-054 returning 305.5 m of 0.23 per cent copper, 0.51 gram per tonne (g/t) gold and 1.22 g/t silver, within 540.3 m of 0.19 per cent copper, 0.36 g/t gold and 1.09 g/t silver (see news release dated Aug. 23, 2023). The results from the remaining 15 drill holes completed at Kliyul will be released once assays are received and compiled.

RDP highlights:

• 1,428 m of diamond drilling was completed in three drill holes at RDP.
• 987 m in two broad stepout holes (over 300 m each) from drill hole RDP-22-005, which returned 107.2 m of 0.63 per cent copper, 1.10 g/t gold and 2.91 g/t silver, within 497.2 m of 0.37 per cent copper, 0.40 g/t gold and 1.6 g/t silver at the Day target in 2022 (see news release dated Oct. 25, 2022).
• 441 m in one drill hole completed at the Bird target where the company discovered porphyry copper-gold mineralization in an outcrop exposed in a stream cutbank in 2022.
• The results from the three drill holes completed at RDP will be released once assays are received and compiled.

"Two thousand twenty-three was Pacific Ridge's busiest exploration season ever," said Blaine Monaghan, president and chief executive officer of Pacific Ridge. "I'm very confident that we will continue to grow the known extents of the Kliyul porphyry copper-gold complex. I also look forward to the drill results from RDP, where 2022 drilling returned one of the best reported porphyry intercepts in B.C. last year."

Two thousand twenty-three Kliyul drilling program update

The 2023 Kliyul drilling program was completed on Sept. 14, with the termination of drill hole KLI-23-069 at 655 m (55 m beyond planned depth). Seasonal progressive reclamation and exploration camp demobilization is under way. The total of 10,284 m of diamond drilling at Kliyul followed the decision to reallocate 2,000 m of drilling originally planned for the company's Chuchi copper-gold project (see Pacific Ridge news release dated July 25, 2023), increasing the planned 2023 drilling at Kliyul from 7,000 m to 9,000 m. An additional 1,284 m of drilling was due to operational efficiencies. The 10,284 m diamond drilling program is the largest-ever seasonal drilling program to be completed at Kliyul.

The objectives of the 2023 Kliyul exploration drilling program were to expand the known extents of the Kliyul porphyry copper-gold complex and to test several high-priority interpreted porphyry centres occurring along the Divide Lake fault and Valley fault corridors.

Two thousand twenty-three RDP drilling program update

The 2023 RDP drilling program was completed on Sept. 2, with termination of drill hole RDP-23-009 at 441 m. Drill rig demobilization and seasonal progressive reclamation have been completed. A total of 1,428 m of diamond drilling was completed in three drill holes and tested two porphyry copper-gold prospects, Day and Bird.

The 2023 drill program at RDP was financed by Antofagasta Minerals SA, a wholly owned subsidiary of Antofagasta PLC. Antofagasta can earn a 75-per-cent interest in RDP by spending $10-million on exploration over eight years and delivering a preliminary economic assessment report (see Pacific Ridge news release dated Feb. 8, 2022). Pacific Ridge is the operator and supported the RDP exploration program from Kliyul camp, located 40 kilometres to the east.

About Pacific Ridge Exploration Ltd.

Pacific Ridge's goal is to become British Columbia's leading copper-gold exploration company. Pacific Ridge's flagship project is its 100-per-cent-owned Kliyul copper-gold project, located in the Quesnel trough, close to existing infrastructure. In addition to Kliyul, the company's project portfolio includes the RDP copper-gold project (optioned to Antofagasta Minerals), the Chuchi copper-gold project, the Onjo copper-gold project and the Redton copper-gold project, all located in British Columbia. Pacific Ridge would like to acknowledge that its British Columbia projects are located in the traditional, ancestral and unceded territories of the Gitxsan Nation, the McLeod Lake Indian Band, Nak'azdli Whut'en, the Takla Nation and the Tsay Keh Dene Nation.

We seek Safe Harbor.